The acquisition of Labrys brings to Teva LBR-101, a fully humanized
monoclonal antibody that binds to calcitonin gene-related peptide
(CGRP), which is currently in Phase IIb clinical trials for prevention
of chronic and episodic migraine. Teva’s acquisition of LBR-101
complements the recent acquisition of ZECUITY®, a novel
iontophoretic patch that delivers sumatriptan via the skin for the acute
treatment of migraine, and positions Teva to compete for leadership in
the treatment and prevention of migraine.

Additionally, the growing migraine franchise forms part of a strategic
expansion of Teva’s overall CNS portfolio, in addition to a number of
products in development for a broad range of pain states and in
particular a large development program in the field of potential abuse
deterrent opioids.

“We are pleased to finalize this acquisition. It’s an exciting
opportunity to develop a much needed treatment option for people
suffering from the impact of chronic and episodic migraine. The CGRP
pathway is scientifically robust, the molecule has the right
specifications to deliver on its clinical promise and the patient
population is both large and underserved. This could make a real and
meaningful difference to patients’ lives” said Michael Hayden, Teva’s
President of Global R&D and Chief Scientific Officer.

About LBR-101

LBR-101 (formerly RN-307) is a monoclonal antibody that binds to
calcitonin gene-related peptide (CGRP), a well-validated target in
migraine. It is currently in Phase IIb clinical trials for prevention of
episodic and chronic migraine. LBR-101, originally discovered by Rinat
Neuroscience (bought by Pfizer in 2006), was acquired by Labrys from
Pfizer in 2012. LBR-101 has successfully completed five Phase I trials
with 94 healthy volunteers dosed with active drug. Results were published
in Cephalalgia, the official journal of the International Headache
Society, in December 2013, and presented at the 2014 annual meeting of
the American Academy of Neurology. A sixth Phase 1 study (bridging
study) tested IV and subcutaneous doses (24 participants received active
medication). Both intravenous and subcutaneous administrations were well
tolerated. LBR-101 exhibited a long terminal half-life which supports
once-monthly subcutaneous dosing. Most treatment-related adverse events
were mild, transient and resolved spontaneously. The maximum tolerated
dose has not been identified. LBR-101 was not associated with any
clinically relevant patterns of change in vital signs, ECG parameters,
or laboratory findings.

Proof of efficacy has been observed for several small-molecule CGRP
antagonists in the symptomatic (acute) relief of migraine. However,
liver toxicity or formulation difficulties have limited their use in
migraine prophylaxis. Chronic migraine is characterized by headaches on
at least 15 days per month and high frequency episodic migraine shares
many similarities with chronic migraine. Patients with this condition
are at a high risk of transformation to chronic migraine, and have
similar unmet needs due to a paucity of currently approved preventive
medications. These preventive medications require daily use, are not
effective in a large percentage of patients, and are commonly associated
with adverse events. Consequently, prophylactic treatment of episodic
and chronic migraine continues to present considerable challenges, and
there remains a significant medical need for new, safe and effective
migraine prophylactic treatment options.

About Teva

Teva Pharmaceutical Industries Ltd. is a leading global pharmaceutical
company, committed to increasing access to high-quality healthcare by
developing, producing and marketing affordable generic drugs as well as
innovative and specialty pharmaceuticals and active pharmaceutical
ingredients. Headquartered in Israel, Teva is the world's leading
generic drug maker, with a global product portfolio of more than 1,000
molecules and a direct presence in approximately 60 countries. Teva's
specialty medicine business focuses on CNS, oncology, pain, respiratory
and women's health therapeutic areas as well as biologics. Teva
currently employs approximately 45,000 people around the world and
reached $20.3 billion in net revenues in 2013.

Safe Harbor Statement under the U.S. Private Securities Litigation
Reform Act of 1995:

This release contains forward-looking statements, which are based on
management’s current beliefs and expectations and involve a number of
known and unknown risks and uncertainties that could cause our future
results, performance or achievements to differ significantly from the
results, performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause or
contribute to such differences include risks relating to: our ability to
develop and commercialize additional pharmaceutical products;
competition for our innovative products, (including competition from
orally-administered alternatives, as well as from potential purported
generic equivalents); the possibility of material fines, penalties and
other sanctions and other adverse consequences arising out of our
ongoing FCPA investigations and related matters; our ability to achieve
expected results from the research and development efforts invested in
LBR -101; the size of the potential market for LBR-101; our ability to
integrate the proposed acquisition; the extent to which any
manufacturing or quality control problems damage our reputation for
quality production and require costly remediation; our potential
exposure to product liability claims that are not covered by insurance;
increased government scrutiny in both the U.S. and Europe of our patent
settlement agreements; our exposure to currency fluctuations and
restrictions as well as credit risks; the effectiveness of our patents,
confidentiality agreements and other measures to protect the
intellectual property rightsof our specialty medicines;the
effects of reforms in healthcare regulation and pharmaceutical pricing,
reimbursement and coverage; governmental investigations into sales and
marketing practices, particularly for our specialty pharmaceutical
products; uncertainties related to our recent management changes;the
effects of increased leverage and our resulting reliance on access to
the capital markets; any failure to recruit or retain key personnel, or
to attract additional executive and managerial talent; adverse effects
of political or economic instability, major hostilities or acts of
terrorism on our significant worldwide operations; interruptions in our
supply chain or problems with internal or third-party information
technology systems that adversely affect our complex manufacturing
processes; significant disruptions of our information technology systems
or breaches of our data security;competition for our generic
products, both from other pharmaceutical companies and as a result of
increased governmental pricing pressures; competition for our specialty
pharmaceutical businesses from companies with greater resources and
capabilities; decreased opportunities to obtain U.S. market exclusivity
for significant new generic products; potential liability in the U.S.,
Europe and other markets for sales of generic products prior to a final
resolution of outstanding patent litigation; any failures to comply with
complex Medicare and Medicaid reporting and payment obligations; the
impact of continuing consolidation of our distributors and customers;
significant impairment charges relating to intangible assets and
goodwill; potentially significant increases in tax liabilities; the
effect on our overall effective tax rate of the termination or
expiration of governmental programs or tax benefits, or of a change in
our business; variations in patent laws that may adversely affect our
ability to manufacture our products in the most efficient manner;
environmental risks; and other factors that are discussed in our Annual
Report on Form 20-F for the year ended December 31, 2013 and in our
other filings with the U.S. Securities and Exchange Commission.
Forward-looking statements speak only as of the date on which they are
made and we assume no obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.